Nigeria: Nickel Ore Market 2020

Nickel Ore Market Size in Nigeria

The revenue of the nickel ore market in Nigeria amounted to $X in 2017, growing by X% against the previous year. In general, nickel ore consumption continues to indicate a skyrocketing expansion. The most prominent rate of growth was recorded in 2008, with an increase of X% against the previous year. Over the period under review, the nickel ore market reached its maximum level of $X in 2011; however, from 2012 to 2017, it stood at a somewhat lower level.

Nickel Ore Production in Nigeria

In 2017, the amount of nickel ores and concentrates produced in Nigeria totaled X tons, increasing by X% against the previous year. The total output volume increased an average annual rate of +X% from 2007 to 2017; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2012, when the output figure increased by X% against the previous year. Over the period under review, the nickel ore production attained its maximum volume in 2017, and is likely to continue its growth in the immediate term.

Nickel Ore Exports from Nigeria

In 2017, approx. X tons of nickel ores and concentrates were exported from Nigeria; surging by X% against the previous year. Overall, the total exports indicated a moderate expansion from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the nickel ore exports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2012, when exports increased by X% y-o-y. Over the period under review, the nickel ore exports attained its peak figure volume of X tons in 2014; however, from 2015 to 2017, it failed to regain its momentum.

In value terms, nickel ore exports amounted to $X in 2017. In general, nickel ore exports continue to indicate a deep decrease. Over the period under review, the nickel ore exports reached its maximum level of $X in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

Nickel Ore Exports by Country from Nigeria

The Philippines represented the largest exporter of nickel ores and concentrates in the world, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2017. It was distantly followed by Indonesia (X tons), New Caledonia (X tons), Australia (X tons) and Finland (X tons), together generating X% share of total exports. Guatemala (X tons) and Canada (X tons) took the weak share of total exports.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Guatemala (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the largest nickel ore supplier from Nigeria, making up X% of global exports. The second position in the ranking was occupied by the Philippines ($X), with a X% share of global exports. It was followed by New Caledonia, with a X% share.

From 2007 to 2017, the average annual growth rate of value in Indonesia totaled +X%. In the other countries, the average annual rates were as follows: the Philippines (+X% per year) and New Caledonia (-X% per year).

Nickel Ore Export Prices by Country in Nigeria

The nickel ore export price in Nigeria stood at $X per ton in 2017, waning by -X% against the previous year. Overall, nickel ore export price continues to indicate a deep decline. The most prominent rate of growth was recorded in 2014, an increase of -X% y-o-y. Over the period under review, the export prices for nickel ores and concentrates reached its peak figure level of $X per ton in 2007; however, from 2008 to 2017, it failed to regain its momentum.

Export prices varied noticeably by the country of destination; the country with the highest export price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Finland (+X% per year), while the other leaders experienced more modest paces of growth.

Nickel Ore Imports by Country into Nigeria

In 2017, China (X tons) and South Korea (X tons) represented the main importers of nickel ores and concentrates in the globe, together reaching approx. X% of total imports. It was distantly followed by Japan (X tons), Ukraine (X tons) and Macedonia (X tons), together generating X% share of total imports. Greece (X tons) and China, Hong Kong SAR (X tons) occupied the mild share of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by China, Hong Kong SAR (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported nickel ores and concentrates into Nigeria, making up X% of global imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of global imports. It was followed by Japan, with a X% share.

In China, nickel ore imports plunged by an average annual rate of -X% over the period from 2007-2017. In the other countries, the average annual rates were as follows: South Korea (+X% per year) and Japan (-X% per year).

Nickel Ore Import Prices by Country in Nigeria

In 2017, the nickel ore import price in Nigeria amounted to X, therefore, remained relatively stable against by -% against the previous year. Over the period from 2007 to 2017, it decreased at an average annual rate of nan%. The pace of growth appeared the most rapid in 2008, an increase of -% against the previous year.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was China ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by China (+X% per year), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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